Mixed month for the UK’s lettings market

The latest data from the Agency Express Property Activity Index has shown a mixed month for the UK’s lettings market during July. National figures for new listings ‘To Let’ sat at 3.6% while properties ‘Let’ across the nation declined, sitting at -5.2%.

Looking at the Index’s rolling three monthly data, figures from May to July show declines in both new listings ‘To Let’, sitting at -2.50% and properties ‘Let’ at -2.7%.  In contrast figures recorded during the same period in 2015 were more robust, new listings ‘To Let’ sat at 4.2% and properties ‘Let’ at 5.6%.

Across the rest of the UK, five of the twelve regions recorded by the Property Activity Index reported increases in new listings ‘To Let’ and only three recorded increases in properties ‘Let’.

Prominent performing regions included:

Properties ‘To Let’

  • North West  12.8% 
  • West Midlands 9.1%
  • East Midlands  8.8%
  • Yorkshire & Humberside 8.1%

Properties ‘Let By’

  • Central England 7.1%
  • East Midlands 3.7%
  • West Midlands 2.2%

This month’s top performing region was the North West. After two consecutive months of decline, the North West bounced back recording the largest increase in this month’s property Activity Index. New listings ‘To Let’ climbed from -5.4% in June to sit at 12.8% in July.

The largest declines in this month’s Property Activity Index were made in the North East. Following a robust month in June where new listings reached 26.5% and lets 13%; July saw a substantial drop in figures. New listings 'To Let' sat at -10.3% and properties ‘Let’ at-18.5%.

Commenting on the Property Activity Index Lettings Report, Stephen Watson Managing Director of Agency Express said:  This month we have seen slower movement throughout UK lettings market. While some decline can be expected during the summer holiday period, the Property Activity Index shows a greater fall in activity than in years previous.

Monthly % Changes for July 2016

% Changes for May - July 2016

New Listings
% Change over last 12 months vs Previous 12 months

Properties Let
% Change over last 12 months vs Previous 12 months

New ListingsProperties Let
Jul 16Jul 15Jul 16Jul 15
NATIONAL3.6-1.5-5.23
Central England4.312.27.14.2
East Anglia5.7-7.7-12.26.2
East Midlands8.8-11.13.715.7
London-0.5-15.6-12.8-3
North East-10.313.9-18.512.8
North West12.8-2.2-4.93.7
Scotland5.410.7-7.815.5
South East-2.4-12.5-4.6-2.1
South West-2.420.9-6.47.5
Wales-3.1-6.3-6.93.2
West Midlands9.14.42.2-9.5
Yorks & Humber8.1-7.3-23.5
New ListingsProperties Let
May -
Jun 16
May -
Jul 15
May -
Jul 16
May -
Jul 15
NATIONAL-2.54.2-2.75.6
Central England-36.6-2.410.1
East Anglia-1.94.4-2.35.3
East Midlands-5.42.32.28.7
London-2.19.5-10.48.2
North East-0.812.5-6.112.9
North West-0.91.6-36.7
Scotland-2.63.70.18.9
South East-5.43.4-3.32.9
South West-3.26.7-1.53
Wales-6.21.2-5.66.3
West Midlands20.7-0.40.8
Yorks & Humber-2.52.81.35.4
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